<p>Fintech firm Salt on Monday said it has raised $500,000 (about Rs 3.7 crore) and is looking at strengthening its headcount to about 100 by the end of next year.</p>.<p>Salt, which offers a cross-border payments platform for businesses, also aims to grow the monthly transactions on the platform to $10 million by 2022. The current monthly transactions on the platform stand at about $100,000.</p>.<p>Founded in 2020 by Ankit Parasher and Udita Pal, Salt currently provides inward remittance products, which helps businesses receive money from over 50 countries in six currencies. It provides a banking, documentation management, and workflow automation platform for exporters and importers (manufacturing and services) across India.</p>.<p>"We are at a cusp of growth in the Indian Impex (import-export) industry, with the government pushing for a higher share in world trade to become an export hub. We require robust banking and compliance products for this industry to support the scale of transactions in a rapidly changing regulatory environment coupled with higher customer expectations,” Salt co-founder and CEO Ankit Parasher said.</p>.<p>He added that the company aims to build a bridge between banking and small businesses for the import/export industry in India by providing a one-stop solution for all their banking needs to support their interactional transactions which currently stands worth $300 billion on a pan-India basis.</p>.<p>The Bengaluru-based company has raised $500,000 in a pre-seed round from Prashant Pansare (Backer Capital founder), Amit Goel (ex-MEDICI), Vishrut Bubna (Verak), Supermorpheus and other entrepreneurs.</p>.<p>The current round will help Salt in building the engineering team, product development as well as building new features as per the product roadmap, Parasher said.</p>.<p>He added that the company's current headcount is about 20, and the company plans to expand it to 100 by 2022.</p>.<p><strong>Check out latest DH videos here</strong></p>
<p>Fintech firm Salt on Monday said it has raised $500,000 (about Rs 3.7 crore) and is looking at strengthening its headcount to about 100 by the end of next year.</p>.<p>Salt, which offers a cross-border payments platform for businesses, also aims to grow the monthly transactions on the platform to $10 million by 2022. The current monthly transactions on the platform stand at about $100,000.</p>.<p>Founded in 2020 by Ankit Parasher and Udita Pal, Salt currently provides inward remittance products, which helps businesses receive money from over 50 countries in six currencies. It provides a banking, documentation management, and workflow automation platform for exporters and importers (manufacturing and services) across India.</p>.<p>"We are at a cusp of growth in the Indian Impex (import-export) industry, with the government pushing for a higher share in world trade to become an export hub. We require robust banking and compliance products for this industry to support the scale of transactions in a rapidly changing regulatory environment coupled with higher customer expectations,” Salt co-founder and CEO Ankit Parasher said.</p>.<p>He added that the company aims to build a bridge between banking and small businesses for the import/export industry in India by providing a one-stop solution for all their banking needs to support their interactional transactions which currently stands worth $300 billion on a pan-India basis.</p>.<p>The Bengaluru-based company has raised $500,000 in a pre-seed round from Prashant Pansare (Backer Capital founder), Amit Goel (ex-MEDICI), Vishrut Bubna (Verak), Supermorpheus and other entrepreneurs.</p>.<p>The current round will help Salt in building the engineering team, product development as well as building new features as per the product roadmap, Parasher said.</p>.<p>He added that the company's current headcount is about 20, and the company plans to expand it to 100 by 2022.</p>.<p><strong>Check out latest DH videos here</strong></p>
